Brokerages Set Sunrun Inc. (NASDAQ:RUN) Target Price at $18.98

Sunrun Inc. (NASDAQ:RUN) has received an average rating of “Hold” from the twenty-three brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.9805.

Several equities analysts recently issued reports on the company. UBS Group cut their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Wall Street Zen downgraded Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Oppenheimer upped their target price on Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their target price on Sunrun from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Finally, TD Cowen cut their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director directly owned 459,091 shares of the company’s stock, valued at approximately $7,308,728.72. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 8,039 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $13.67, for a total value of $109,893.13. Following the sale, the chief accounting officer directly owned 72,963 shares in the company, valued at $997,404.21. This represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 694,816 shares of company stock worth $9,366,473 in the last three months. Company insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after purchasing an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Sunrun during the 4th quarter worth about $27,000. Hantz Financial Services Inc. grew its position in Sunrun by 59.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares during the period. Sycomore Asset Management acquired a new stake in Sunrun during the 3rd quarter worth about $28,000. Finally, Kestra Advisory Services LLC acquired a new stake in Sunrun during the 4th quarter worth about $30,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Price Performance

NASDAQ RUN opened at $13.62 on Thursday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The stock’s fifty day moving average price is $13.53 and its 200 day moving average price is $15.73. Sunrun has a 1 year low of $5.98 and a 1 year high of $22.44. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 6.39 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. During the same period in the prior year, the firm earned $0.20 EPS. The firm’s revenue was up 43.2% on a year-over-year basis. As a group, equities research analysts forecast that Sunrun will post 1.09 earnings per share for the current year.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.